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The promise of lower fixed costs and better efficiency ratios that heralded the introduction of online banking was based on the belief that the Internet could be used to create a self-service environment that would reduce the staffing and technology requirements.

Today, customers have a number of options of when and how they communicate their banking needs. However, one thing is certain - they want to do business with financial institutions that make their experience easy, convenient and simple.

No one disputes that branch traffic is down and digital use is up at financial institutions. However, there is much debate over the conclusion that such a trend means that branchless banking is just around the corner.